Personal Information and Privacy Protection Illinois Department of Financial and Professional Regulation Division of Insurance

The Gramm-Leach-Bliley Act sets forth certain requirements pertaining to the privacy of financial information gathered for and concerning customers of financial institutions. Those requirements apply to entities regulated by the Division of Insurance. The Division of Insurance has already adopted (50 Ill. Adm. Code 4001) which requires the Director to enforce these provisions and has an effective date of July 1, 2001. The Division of Insurance has now adopted (50 Ill. Adm. Code 4002) to address in greater detail the underlying requirements placed on those being regulated. Of particular importance is that the Final Adoption at 50 Ill. Adm. Code 4002.240 provides that the notice provisions become effective upon the first renewal after July 1, 2001 for customers of the regulated entity prior to July 1, 2001. The final adoption of this Part appears in the June 8, 2001, Illinois Register, Vol. 25, Issue 23 on page 7176.

If you have questions concerning this matter contact Bob Wagner at 217-782-8216.